Thursday, January 29, 2009
Walter Williams on the "Stimulus" Package
Walter Williams on the fiscal realities of the "stimulus" package. The government conveniently forgets or is ignorant of the fact that recessions are cyclical, and the less the government does to help, the quicker the recovery. In fact, there would be fewer, shallower recessions if we had some simple, consistent, easily-understood economic rules in place that the government wouldn't touch. Legal stability in the economy would go much farther to stabilize the economy and prevent wild swings than anything else the government could do. In other words, they have done enough. Like a 19th century doctor trying to bleed someone until they recover, but in fact cause them to die, the government needs to stop "helping" us so we can finally recover.